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Show THE SALT LAKE TIMES FRIDAY, UP&ls Earnings Deteriorate File The Public Serbice Commission of Utah heard testimony from Utah Power & Light Co. officials that itn earningi have continued to deteriorate despite a rate increase granted the com- pany last year. UP&L President E. A. Hunter pointed out to the commission that this request for a rate increase is made only for revenue to offset increased costs and will not result n company earnngs cxceedng the return on cquty granted by the PSC in Taxpayers can help speed up any refund due by filing their tax returns now and by using the p label and encame with their tax velope that packages, the Internal Revenue Service said today. FEBRUARY 7, 1974 Page Nine Label and Now, Use Despite Last Year's Rate increase Envelope for Speedier Refund ; j ; 1974. Mr. Hunter termed the need for rate relief essential and that it be placed in effect im- The sworn testimediately. mony was presented to the PSC as the commission opened hearings on the utilitys application to increase electric service rates in Utah. The increase would apply to all general classes of customers with residential customers rates increasing about 16 percent, or about $20 million in Utah. Responding to the question asking if the revenue requested in its application is not granted, Mr. Hunter said the company would be forced to immediately cancel or defer essential construction projects. our with Simultaneously move to defer these projects, Mr. Hunter said, we would notify our large commercial and industrial customers that we would be unable to meet their In total power requirements. addition to the present large customers, we would so notify all future customers that have contacted us or contracted with, us for power and this would include large industrial customers and municipalities who are planning on Utah Power & Light Co. supplying their future requirements. This would be a drastic step, and would rtsull in loss of jobs and irreparable economic damage to the state of Utah; it surely would not be in the public interest, but there would be no Mr. Hunter other alternative. said. The major thrust of Mr. Hunters testimony before the commission Tuesday was the impact of high eperating costs over which the utility lias no control. Mr. Hunter explained that one of the reasons for the drop in To Be the companys earnings is that actual facilities used to serve customers reflected by the rate base at the end of 1974 were $72 miion more than the base which the commission used to determine the allowable rate of return. This $72 million is something real, Mr. Hunter said. These properties are now actually being used to serve customers and were financed by the issuance of securities on which we are paying interest and dividends. In addition, we must meet all the other costs associated with this investment." Also, Mr. Hunter said, we arc asking for an additional amount to cover the increased cost of issuing securities which were sold last year at a cost exceeding the estimated cost allowed by the commission in the last rate hearisg. The recent wage settlements negotiated by the United Mine Workers has brought about higher costs for the coal the company burns in its steam-electrgenerating plants. The company is asking the commission to allow it to recover these actual known additional costs. A 4 so affecting costs is the November 1974 failure of the companys Naughton 330,000, third unit and the cost of power. Mr. Hunter estimated the unit would be out of service for six months and asked the commission to allow recovery of this additional cost hrough a temporary surcharge. Later Tuesday, A. R. Dunn, manager of rates, told the commission the surcharge is set up to recover the increased costs of an period and if the to obtain reis able company placement energy at a lower cost than it now foresees, the surcharge will either be lowered or terminated prior to January i IRS Taxpayers can erpect their refunds in four or five weeks by filing now, but those who wait until the last minute could face a refund delay of up to eight weeks. Roland V. Wise, District Director of Internal Revenue for Utah, explained that the Ogden Service Center can process returns faster if they arrive with the labels affixed and in envelopes provided by the IRS. Because this envelope is codto ed accommodate special sorting eyquipment, Mr. Wise said, we can handle the return much faster and get the refund out that much sooner. Another advantage to using the envelope in the tax package, according to the IRS spokesman, is that it precludes an address mistake that the taxpayer could make if he has to prepare his own envelope. The IRS envelope is just the right size for the tax return, W-- 2 forms, and supporting documents and schedules, Mr. Wise said. If a taxpayer tries to cram all of this into a tiny letter-size- d envelope, he added, there is a good chance that the contents may be tom in processing, which could further delay a refund. , Mr. Wise pointed out that the nvolone in the tax package is coded by the type of return to be filed 1040 or 1040A and by the servicing IRS district I The chief advantage to the label that came with the tax package, accoiding to Mr. Wise, is that the taxpayers name, ad-- ; dress and social security number are already printed. The possibility of making an error is remote. In using the label first check that the information on it is correct, Mr. Wise advised. If there is an error for example, have moved you may simply make the correction right on the label. Then transfer the from label your tax package to the front of the 1040 or 1040 A its that simple, Mr. Wise said. EMBARRASSING, BURNINf ZIEMO relieves itching fast be office. medicause its special anti-itc- h surface inflamed cation soothes tissues. Get relief with thefirstap-plicalio- n of soothing, medicated ZEMO Oint- ment or Liquid. Zjv'llJLU If the return can bypass two manual sorting procedures, the IRS District Director said, then obviously the processing is faster and the refund is issued that much sooner. frAffrlA ic 11-mon- 1, th 1976. Mr. Hunter said the company plans to sell debt and equity securities totaling $155 million during 1975 to carry on its construction program. Without an increase in revenues as requested, the company will be unable to meet the legal requirements of selling these securities. Other UP&L officials testifying supporting Mr. Hunters statements were D. L. Bryner, vice president; O. T. Colby, Jr., manager of financial accounting and Mr. Dunn. Being in control of your money means more than living from paycheck to paycheck. It means salting away something for the future, too. Thats whats beautiful about the Payroll Savings Plan. When you sign up for Payroll Savings where you work, an amount you specify is automatically set aside from each paycheck and used to buy UJS. Savings Bonds. e While you use your pay for todays expenses, youre still able to build a substantial nest egg for Rebated The Week Of January to, 19U 5 take-hom- tomorrow. BOB JONES Payroll Savings. Its a beautiful way to make sure your futures going to be in the black. University tf Now E Bond pay 6JC bitamt whan bald to maturity 6 yean (4HJ6 tha ftnt year). Banda an replaced if lost, atolen or destroyed. When needed, they an baca thed at your bonk. Interest ia not subject to stele or local inooma taxeA and federal taa may ba deferred until redemption GREENVILLE, SOUTH CAROLINA 29614 knows what tomorrow will reveal. The Christian does not need to know. Whatever the day shall bring forth proves a blessing to the child of God. "All things work together for good to them that love God, to them who are the called according to his purpose (Romans 8:28). Temporal losses can result in the falling away of chains that bind the Spirit. The darkness of sorrow can bring to the Christians ear the melody of songs which the laughter of the day had drowned out. The flames of a martyrs death can become the wings of a fiery chariot to bear the victorious saint to glory. How wise, then, to leave all our tomorrows with Him Who orders our way, with Him ot any man or woman Who knows the end from the beginning! The man who completely trusts God and accepts with unquestioning obedience Gods commands will find that all things that happen to him unfortunate though they seem will prove golden links in a chain of blessing. Illness that may necessitate moving to another climate may, from the standpoint of the moment, seem a tragedy. It could be Gods way of putting His child in the place of special blessings that await him. The bitter waters of sorrow that almost overflow to drown the very soul may cause us to cry to God for relief; and in new reliance upon Him, we can find instead of engulfing floods a crystal stream of abundant . slock; mrntnea. f - it :.-- ! . ApuMaeeMeoofVtkpuMeadM M TM MVMWDS C9WGfa Join the Payroll Savings Plan. . i ;V . |